Camden Accountant Found Guilty of Theft

Camden Accountant Found Guilty of Theft

COLUMBIA—United States Attorney Bill Nettles stated today that former C.P.A. Joseph Glenn Folsom, Jr., age 61, of Camden, has been convicted of four counts of interstate transportation of stolen money, a violation of 18 U.S.C. § 2314, after a three-day trial in Columbia that concluded Wednesday. United States District Judge Joseph F. Anderson, Jr., of Columbia, presided over the trial and will sentence Folsom at a later date.

Evidence presented at the trial established that Glenn Folsom prepared the taxes for “E.F.” and her husband for 30 years. E.F. requested Folsom to draft her will in December 2006. He did so, naming himself as the executor. When she died 10 months later, Folsom used his power as executor to steal funds from the estate and buy classic cars, an airplane, and lake property for himself. In all, he stole approximately $580,000.

“The United States Attorney’s Office will continue to prosecute those who abuse the trust placed in them by our most vulnerable citizens, in this case, an elderly woman and her family. We are grateful for a system of justice that holds Glenn Folsom and those like him accountable for their actions,” said Mr. Nettles.

David A. Thomas, Special Agent in Charge of the FBI, said, “We are pleased by the resolution of this matter. This individual betrayed the confidence and trust placed in him, and the financial losses in this case were staggering. We will continue working with our partners to identify and stop those who line their own pockets at the expense of others.”

Mr. Nettles stated the maximum penalty for interstate transportation of stolen money is imprisonment for 10 years and/or a fine of $250,000.

The case was investigated by agents of the Federal Bureau of Investigation. Assistant United States Attorney Winston Holliday of the Columbia Office is prosecuting the case.